This invention relates to a document dispensing system including a method of dispensing documents such as currency or bills in a transaction execution terminal.
Transaction execution terminals are currently available for the performance of specific financial transactions. Such terminals typically require the insertion of a credit card containing account information written on a magnetic stripe and the keyboard entry of a personal ID number which corresponds in a predetermined manner to the credit card account information. The terminal then receives the requested "dollar amount" through the numeric keyboard and issues the desired amount of cash if the credit card and the ID number are found to be in order. One such system is shown in U.S. Pat. No. 3,937,925 which issued on Feb. 10, 1976.
One problem associated with such transaction execution terminals is that the document or bill dispensing system associated with the terminal is generally expensive to manufacture. Also, generally only one bill at a time may be present in the bill dispensing system which makes the total time for dispensing a large number of bills time-consuming.
Another problem associated with the document dispensing systems is that the control means used therewith are generally not flexible enough to handle a variety of currencies from different countries.